The recent media coverage pertaining to New Zealand’s foreign trusts makes the country look like one that has wealthy people, exotic lands, and a complex banking system. However, this is not the case since these reports are highly overrated. This is because New Zealand isn’t a tax haven as it has widely been reported. The OECD keeps maintains a list of countries that are tax havens. New Zealand has never been featured on this list, a situation that is likely to remain for years to come.
Why New Zealand is not a Tax Haven
Countries considered as tax havens impose low or marginal income tax. There is little transparency in these countries’ banking sector. In addition, there are laws that prevent the exchange of information between government agencies, and with other governments. New Zealand doesn’t qualify since none of the aforementioned conditions apply to it. The country’s banking system is similarly transparent. The international standard for banking and tax transparency is the OECD Model Agreement on Exchange of Information, which was ratified in 2002.
The international banking law supports the exchange of information between signatory nations. This helps in the administration and enforcement of domestic tax laws. New Zealand gained attention for being among the first nations to abide by the law, something that saw it included in the OECD white list. Since then, the country has made huge strides as far as the implementation of the international tax standard is involved.
Demonstration of Leadership
One of the ways through which the country has shown leadership in financial transparency has been the meticulous manner in which foreign trusts are handled. The country similarly places stringent requirements on trustees to ensure that they comply with government agencies whenever information concerning the trusts is needed. Rules concerning tax transparency in New Zealand were introduced in 2006 following extensive consultation with various stakeholders.
Under the regulations, trustees who are New Zealand residents must surrender a Foreign Trust Disclosure form to the IRD. In addition, they are required to maintain financial records for tax purposes. These records may include details of a trust’s liabilities and assets, details of distributions and settlements, and any monies spent or received by a trustee. Geoffrey Cone is among New Zealand lawyers who are helping reinforce this regulation.
About Geoffrey Cone
Geoff is a renowned New Zealand commercial attorney. He is a principal at Cone Marshall. Mr. Cone has experienced insurmountable success within the legal field. He has practiced for close to three decades, which explains why he has a legendary status. Geoff is a renowned tax consultant with extensive knowledge about international tax planning and management. At Cone Marshall, Geoff has been instrumental in the formation of partnerships with family advisors and lawyers. This ensures that all cases handled by the firm are addressed in an expeditious manner.
Fabletics is an athletic wear company that is a branch of JustFab. They are a subscription service just like JustFab and the customer pays a subscription fee monthly for an outfit that is selected by in-house style experts. When the customer signs up for the service initially they are asked a series of style and lifestyle question. The company bases their monthly choices off of the answers from those questions.
Women everywhere have been leaving rave reviews for Fabletics. They love the quality and the value that they receive when doing business with them. In fact, major websites such as The Krazy Coupon Lady and Trust Pilot have featured rave reviews regarding the quality and value of the products that they tested. Trust Pilot gives Fabletics a high star rating for overall customer service and quality as well.
Fabletics is a high-quality brand that uses the very best materials and workmanship. They offer their products at incredible prices too. They have items that compare to the more expensive products. Their goal is to offer the very best athletic wear in all sizes for all ages. They have something for everyone and they are proud to be an all-inclusive brand. Fabletic’s co-founder and spokesperson Kate Hudson is also proud to announce that the company is now offering swimwear and evening wear.
Fabletics has enjoyed a huge amount of success in the last few years. The athleisure wear craze has taken the country by storm. Women everywhere have been scooping up and wearing athletic clothing every chance that they get. Fabletics has been on the forefront of this movement. They have built a reputation for offering fantastic style at a fraction of the price that other companies offer their athletic wear products for. Fabletics is made of the very best material and has features such as built in bras and reinforced tummy areas. The swimwear resists sliding and moving on the body so that you don’t have to worry about having a wardrobe malfunction. Not only is the clothing incredible stylish but it is incredibly comfortable as well. This is one of the reasons we see women wearing their Fabletics for everyday activities instead of just for exercise.
He Started Writing Programs In The 4th Grade
From the very beginning Eric Pulier showed a talent for programming. As early as high school he was using this talent to create first company. Like any other boy wonder Pulier eventually found himself studying at the University of Harvard where he majored in computer science. Sometimes kid geniuses don’t live up to expectations when they get older, but Pulier’s career path has consistently steered towards innovations. His work has led to breakthroughs in areas such as private social networks and remote desktop software.
He’s Generated Hundreds Of Millions In Dollars
The startups Eric Pulier has created almost always end up successful. The word “successful” here doesn’t simply mean breaking even or turning a profit. It means his companies are sold for multiples of millions by the time he’s ready to sell them.
He’s Devoted More Time To Charity Than Profit
Although Pulier has amassed a fortune he hasn’t let that fortune go to his head. The charity work of Eric Pulier is far more notable than anything he’s done for his startups. Take the example of Starbright World for instance. When the Starbright Foundation wanted to help its young patients connect with people facing similar diseases they asked Pulier to help build a social network specifically for their network of hospitals. Today thanks to his work Starbright World serves hundreds of patients treated in over 70 hospitals. The success of Pulier is so great it eventually attracted the attention of the federal government.
He Worked For The President At One Point
In the late 90s President Bill Clinton asked Eric Pulier to help him on a project he called “Bridge Of The 21st Century“. With this project Pulier created an exhibit describing the various ways technology would impact our lives in the 21st century. That exhibit was so popular Pulier’s name was printed in newspapers across the country and broadcasted with major news channels. Even today Pulier continues to help the Clintons’ through his participation in the Clinton Global Iniative and other nonprofit organizations.
Businessman Don Ressler is an entrepreneur internet marketing specialist. He began his professional career helping companies connect with millions of potential customers via the world wide web. He’s helped to raise capital in excess of $100 million for web-based companies and is responsible for generating more than $1 billion in sales. That has helped him earn a reputation as a brand-building and business guru. Fabletics, one of the most recent companies he co-founded, is transforming the fashion industry with its online marketing strategy.
Ressler’s first company was the start-up, FitnessHeaven.com. The company was purchased in 2001 by Intermix Media. Intermix Media also hired Ressler who spearheaded a series of core ventures that dramatically increased the value of Intermix Media’s stock. Ressler then worked with 19 year old Intermix Media COO Adam Goldenberg to create the company’s performance advertising and e-commerce division Alena Media. The division brought in hundreds of millions of dollars and was the only profit center for Intermix.
When News Corp bought Intermix Media in 2005, Ressler and Goldenberg struck out on their own. Together they founded a number of very profitable companies beginning with Intelligent Beauty. They also co-founded skincare companies Hydroderm and DERMSTORE and SENSA, a weight-loss system. Using their brand-building and internet marketing expertise, Adam Goldenberg and Don Ressler made all of these companies into lucrative, wildly successful brands.
In 2010 Ressler and Goldenberg launched JustFab, a subscription e-commerce fashion retailer. They brought in fashion icon Kimora Lee Simmons as JustFab’s president and creative director in September 2010. By December JustFab had 4 million members. By April 2012 the company had 6 million members and was growing rapidly. With the leadership of Ressler, Goldenberg and Lee, JustFab bought FabKids, a children’s subscription fashion service, acquired The Fab Shoes, a European fashion e-commerce site and gained 3 million members in Europe.
In October, 2013 Don Ressler and the JustFab team joined with actress Kate Hudson to create their best known company yet. It’s called Fabletics and is a subscription website offering stylish outfits and athletic wear. Made from fabrics that move and stretch, the clothes are called Athleisure wear and can be worn to work, to dinner or to a work-out session. That kind of flexibility combined with great cuts, the latest styles and made to fit women of all shapes and sizes, has made Fabletics Don Ressler’s latest company to quickly generate tens of millions of dollars.